When rates go higher, these stocks are very tough to own, he explained.
IonQ, on May 6, reported first-quarter revenue of $64.67 million, beating analyst estimates of $49.73 million. The quantum company posted a first-quarter adjusted loss of 34 cents per share, beating estimates for a loss of 35 cents per share, according to Benzinga Pro.
“It’s a very competitive market. I don’t want to be there,” Cramer said when asked about Figma, Inc. (NYSE:FIG).
On the earnings front, Figma said it will release its second-quarter financial results after the closing bell on Wednesday, Aug. 5.
TD Cowen analyst Jeff Osborne, on Monday, maintained SolarEdge with a Buy and lowered the price target from $85 to $75.
Hovde Group analyst Brendan Nosal, on July 10, upgraded Independent Bank from Market Perform to Outperform and raised the price target from $36 to $41.
Price Action
- Figma shares fell 2.1% to settle at $21.47 on Wednesday.
- Solaredge shares dipped 4.8% to close at $47.88 during the session.
- IonQ shares fell 2.3% to settle at $34.68 on Wednesday.
- Independent Bank shares declined 1.3% to close at $36.01.
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